Buyback Frenzy: Where Do Repurchased Tokens Ultimately Go?

Aave's token burn mechanism is being considered by the team as part of Aavenomics 3.0, but the exact parameters are still unclear.

Meanwhile, Pump.fun has been aggressively buying back PUMP tokens and burning them since April 2026, accounting for 36% of the circulating supply.

However, despite this significant burn rate, the price of PUMP remains flat at around $0.0013, down approximately 89% from its all-time high.

This raises questions about the effectiveness of buyback and burn mechanisms in driving up token prices, especially when the token itself lacks intrinsic demand.